Adobe Systems Incorporated (ADBE) Stake Maintained by Factory Mutual Insurance Co.
Factory Mutual Insurance Co. continued to hold its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 331,000 shares of the software company’s stock at the end of the second quarter. Factory Mutual Insurance Co.’s holdings in Adobe Systems were worth $46,817,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. CENTRAL TRUST Co boosted its position in shares of Adobe Systems by 3.1% in the first quarter. CENTRAL TRUST Co now owns 3,812 shares of the software company’s stock valued at $496,000 after buying an additional 114 shares during the period. National Pension Service boosted its position in shares of Adobe Systems by 2.6% in the first quarter. National Pension Service now owns 368,042 shares of the software company’s stock valued at $47,702,000 after buying an additional 9,456 shares during the period. Pennsylvania Trust Co boosted its position in shares of Adobe Systems by 9.7% in the first quarter. Pennsylvania Trust Co now owns 44,222 shares of the software company’s stock valued at $5,755,000 after buying an additional 3,905 shares during the period. Murphy Capital Management Inc. bought a new position in shares of Adobe Systems during the first quarter valued at about $244,000. Finally, Bank of Montreal Can boosted its position in shares of Adobe Systems by 55.1% in the first quarter. Bank of Montreal Can now owns 532,735 shares of the software company’s stock valued at $69,323,000 after buying an additional 189,200 shares during the period. 88.05% of the stock is owned by institutional investors and hedge funds.
Adobe Systems Incorporated (ADBE) traded down 1.21% on Thursday, reaching $146.56. The company’s stock had a trading volume of 422,359 shares. Adobe Systems Incorporated has a 52 week low of $97.15 and a 52 week high of $150.40. The firm has a 50 day moving average price of $145.64 and a 200 day moving average price of $132.74. The stock has a market capitalization of $72.31 billion, a P/E ratio of 51.05 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. Adobe Systems’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the business earned $0.71 EPS. On average, equities analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current year.
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ADBE has been the subject of several analyst reports. Guggenheim initiated coverage on Adobe Systems in a report on Wednesday, April 12th. They issued a “buy” rating and a $155.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating on shares of Adobe Systems in a report on Tuesday, April 18th. Barclays PLC initiated coverage on Adobe Systems in a report on Tuesday, May 2nd. They issued an “overweight” rating and a $155.00 price objective for the company. Royal Bank Of Canada boosted their price objective on Adobe Systems from $135.00 to $157.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Finally, Vetr cut Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price objective for the company. in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $153.20.
In related news, EVP Ann Lewnes sold 2,233 shares of Adobe Systems stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total transaction of $311,034.57. Following the transaction, the executive vice president now owns 61,944 shares in the company, valued at approximately $8,628,179.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John E. Warnock sold 32,600 shares of Adobe Systems stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the transaction, the director now owns 16,088 shares in the company, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,239 shares of company stock worth $14,877,475. 0.38% of the stock is owned by company insiders.
About Adobe Systems
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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